Business news from Ukraine

Business news from Ukraine

DTEK FINDS ZELENSKY’S STATEMENTS AS UNFAIR

DTEK Energy has called the statements made by President of Ukraine Volodymyr Zelensky as unfair and groundless.”Statements that have been made by the top leadership of the state today, DTEK considers to be unfair and groundless,” the website of energy holding said on Friday evening, November 26.At the same time, the company said that instead of the necessary support in the context of the global crisis, it faces pressure and discrimination.”DTEK always helps the state and also needs support during the unprecedented global crisis. Instead, we face constant pressure, fabricated accusations, and discrimination,” the company said.According to the company’s estimations, today, the state’s total debt to DTEK reaches over UAH 15 billion.The company, in particular, said that DTEK was the only one out of almost 1,000 companies to which the state has not repaid the debt yet for the produced green electricity “for unknown reasons”.As reported, the rate of DTEK Energy eurobonds maturing in 2027 collapsed by 11.6% on Friday immediately after the accusations of Ukrainian President Volodymyr Zelensky against the company and its owner Rinat Akhmetov at a press conference on Friday.According to information in the Bloomberg terminal, the fall reached 13.3%, but then it was won back somewhat.They reacted with a 0.5% decline to the president’s words and the quotations of DTEK Renewables bonds maturing in 2024, but then they almost returned to their previous level, falling short of only 0.1%.With regard to eurobonds of the Metinvest mining and metallurgical group maturing in 2029, of which Akhmetov is also the majority owner, their rate fell by 1.4%.Zelensky said that he had undercover information that they were discussing Rinat Akhmetov’s participation in the coup d’etat in Ukraine with representatives of Russia.The president said that businessman Rinat Akhmetov is being “set up”. “I believe that this is a set-up of businessman for Rinat Akhmetov. I believe that this is an operation, he is being dragged into a war against the state of Ukraine. I believe that he started it, and unfortunately, it will be his big mistake, because one cannot fight against your people, against the president who was elected by the people of Ukraine.”On the issue of coal supplies to Ukraine for thermal power plants, the president said that it was possible to provide them from the United States thanks to his agreements at the highest level in this country, while he called on private generation to unite efforts to ensure the passage of the heating season.”This should be solidarity work. If it’s bad with this or that country and they officially cannot sell you some kind of coal, then a private structure should come, help and buy. If I agree at the highest level, I repeat, at the highest level from the United States, so that 11 ships of coal would sail here. Do you think that I said that you should give us, but don’t give DTEK? Nothing of this kind. I say ‘us.’ The heating season is in our country,” Zelensky said at the same press conference.Earlier, Zelensky announced the supply of coal to Ukraine in the amount of seven Panamax ships (about 500,000 tonnes), which should protect Ukrainians, in his opinion, from consumption restrictions.DTEK, for its part, said that these supplies from the United States and Colombia were contracted by it. The first ship for PJSC Centrenergo arrived in Ukraine on November 20, another six are expected in November-January.

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SWEDISH H&M TO OPEN SIXTH STORE IN KIEV

Swedish fashion retailer H&M will open its sixth store in Kyiv on December 10 in the Respublika Park shopping and entertainment center, the press service of the retailer reported.
“We are pleased to announce the opening of an H&M store in the Respublika Park shopping and entertainment center. By increasing the number of outlets in Ukraine, we continue to provide the best customer experience and follow our constant principle – fashion and quality at the best price with care for the environment,” Regional Manager of H&M in Ukraine and Eastern Europe Mehmet Arisoy said.
The store with a total area of about 2,200 square meters is made in a new brand concept with the least impact on the environment. The materials used in the interior are more environmentally friendly, and the lighting with the most modern LED technologies, combined with an innovative ventilation system, reduces the store’s carbon footprint by 40%.
The H&M store will present clothes for the whole family. On the day of its opening, there will be a special offer – discounts up to 50%.
“The opening of H&M in the Respublika Park shopping and entertainment center is an opportunity to become even closer to our customers. I am sure that due to its location in a dynamically developing area of the Ukrainian capital, as well as the innovativeness and attractiveness of the shopping and entertainment center itself, the new store will very soon become a favorite shopping destination for Kyiv residents,” Olha Oliynyk, PR & Marketing Manager of H&M in Ukraine, said.
As of November of this year, the H&M chain in Ukraine has eight outlets: five in Kyiv, one each in Odesa, Kharkiv and Lviv.
The Swedish company Hennes & Mauritz AB (H&M), the owner of the second largest clothing store chain in Europe, opened the first store in Ukraine in 2018.
H&M Hennes & Mauritz LLC was established in 2013. According to the data of the Unified State Register of Legal Entities and Individual Entrepreneurs, the ultimate beneficiary is Stefan Persson (Sweden).

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TURKISH COMPANY MULLING PLACEMENT OF BITUMEN PLANT IN WESTERN UKRAINE

The Turkish construction and investment company Beta Engineering is considering Lviv region for the placement of a bitumen plant, Head of Lviv Regional State Administration Maksym Kozytsky has said.
“Entrepreneurs have their own oil refineries and bitumen plants in Turkey and Iraq. In Ukraine, they would like to start their business, attracting investments as public-private partnership,” Kozytsky wrote on Facebook.
According to him, the parties agreed that the company will study the market and issue a request, and the Regional State Administration will offer land plots suitable for the implementation of the project.

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ZELENSKY ISN’T GOING TO DISSOLVE RADA AHEAD OF SCHEDULE

President of Ukraine Volodymyr Zelensky is not going to prematurely terminate the powers of the Verkhovna Rada.
“I will not dissolve parliament. Nothing will change as of yet,” he said at the press marathon 30 questions for the President of Ukraine in Kyiv on Friday.
He stressed that he does not understand the point why the parliament should be dissolved if the deputies vote, and noted that the country needs stability.

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ZELENSKY PROVIDES INFORMATION ON ADDITIONAL PROTECTION OF NPPS

Ukraine has introduced additional security measures at nuclear power plants (NPP) in order to avoid interference in their work with the aim of destabilizing, head of state Volodymyr Zelensky has said.”To date, Energoatom is operating as it never did. Some 13 blocks out of 15 are working. God grant that everything is good. We are additionally protecting them. Frankly speaking, we know that today everyone wants to do so that there is energy destabilization in Ukraine,” Zelenskiy said during a press conference in Kyiv on Friday.”The main thing for us is that there are no blackouts,” the head of state said.

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AVENGA BUYS UKRAINIAN IT COMPANY PERFECTIAL

The international IT holding Avenga Group has announced the purchase of the Ukrainian outsourcing IT company Perfectial.”According to a report on Avenga’s website, the Ukrainian Perfectial has a team of 500 engineers and UX specialists, which, as part of a long-term strategy, will help Avenga establish itself as one of the leading market players. The cost of the deal has not been disclosed.”Within the last year, Avenga’s global revenue has increased constantly and significantly. At the same time, our team has grown from 2,500 to almost 3,000 professionals. However, our strong organic growth needs to accelerate to meet ever-growing customer demands and to implement projects as quickly as possible. Therefore, after an extensive evaluation of the market, we decided to join forces with Perfectial. Their engineering culture and work attitude, especially their unwavering focus on customer satisfaction and digital excellence, make them a perfect match for Avenga Group,” Jan Webering, the CEO of Avenga, said.Avenga is backed by funds managed by Oaktree Capital Management L.P. and Cornerstone Investment Management for further expansion.Avenga is an international group of technology partner companies providing complex digital transformation services, including implementation, integration and development of technologies, as well as strategy and consulting, in particular in medical, financial, insurance and automotive markets, in particular in Germany, Malaysia, Poland, the United States. The company’s offices are located in Ukraine (Kyiv, Lviv, Kharkiv, Vinnytsia, Ivano-Frankivsk, Lutsk, Poltava, Khmelnytsky and Cherkasy).Perfectial is a Ukrainian IT company founded in 2010. It deals with solutions in financial, marketing, telecommunications and real estate sectors. The company’s offices are open in Lviv, Ivano-Frankivsk and Kyiv.

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